Forex Today: Dollar dominates amid stimulus and Brexit uncertainty, ahead of US retail sales

The dollar is holding onto its gains amid growing uncertainty about US fiscal stimulus and the potential for a breakdown in Brexit talks. Surging eurozone cases are also weighing on sentiment and US consumption data are eyed ahead of the weekend. Fiscal stimulus: President Donald Donald Trump wants a large relief package Congress, above $1.8 trillion already offered. However, Senate Republicans are willing to allow for only $500 billion and House Democrats want $2.2 trillion. Brexit: UK Prime Minister Boris Johnson is set to announce his decision on whether to continue or abandon talks on future relations, and GBP/USD is on the back foot.

EU leaders agreed to extend talks with the UK but did not say they would "intensify them." Moreover, Brussels expects a move from London to state aid and fisheries. Britain's Chief Negotiator David Frost expressed disappointment. If Johnson opts to continue talking, the pound would rise. 


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